View Full Version : W Bails Out Losers
sandy
12-06-2007, 07:25 PM
W will sign legislation bailing out all the losers who got sub-prime (adjustable) mortgages on homes they could not afford. I am against this. These people made choices and knew what they were doing. Why do we always have to bail out STUPID people? :mad:
http://news.yahoo.com/s/nm/20071206/us_nm/usa_subprime_homeowners_dc
I know people with fixed 7-8% loans who are gonna be really ticked off. :( The people who got the super-low adjustables (some starting at 1%) are getting a free ride. :mad:
frank
12-06-2007, 11:08 PM
Correction, it's not ALL. It only applies to borrowers whose ARM's changed in 2007, not before.
TaylorHicksRocks
12-07-2007, 08:11 AM
It's also only for 5 years then things will go back to how they were...BTW these people are not losers Sandra!:rolleyes:
Leviticus 25:35
If one of your countrymen becomes poor and is unable to support himself among you, help him as you would an alien or a temporary resident, so he can continue to live among you.
Proverbs 14:31
He who oppresses the poor shows contempt for their Maker,
but whoever is kind to the needy honors God.
Proverbs 17:5
He who mocks the poor shows contempt for their Maker;
whoever gloats over disaster will not go unpunished.
Proverbs 19:1
Better a poor man whose walk is blameless
than a fool whose lips are perverse.
Proverbs 19:17
He who is kind to the poor lends to the LORD,
and he will reward him for what he has done.
Proverbs is full of verses about how we should be loving and kind to the poor.....Apparently Dubya' is doing work for God....
sandy
12-07-2007, 08:55 AM
Yes, they are losers. They bought WAY out of their affordability. They are stupid. Why should Americans who’ve made sound financial decisions have to pay for the mistakes of those who made lousy decisions? :mad:
These people aren't poor, they're STUPID! You don't buy something you can't afford and then stop paying for it while you still live in it. These people make me sick. Ugh.:throwup:
They are RUINING the housing market.
Wouldn't call them 'losers'. They did err in not doing their homework. Several years back the (MUCH) better half and I were looking at buying a house. We talked to two mortgage companies and were pre-qualified for a $300k loan. We looked at the numbers and there was NO WAY we could have legitimately afforded that. This was before the big housing bubble, so that home would likely be over a half million now. In California I realize that's not much. But here you could get a 4000 square foot home (waterfront) for that. Had we borrowed that much without running the numbers we'd be in trouble financially. But I'd wager that many folks accept what the mortgage companies tell them without thinking that they're in the business of selling money. The bigger mortgage they sell the more they make. Most of those who sell mortgages don't really care one way or the other if the borrower runs into problems later on. But they get dazzled by all the bells and whistles of a bigger, more expensive house than they really need. Since we have no kids, we sold some stuff and bought a TINY house (less than a thousand square feet). It meets our needs and we have no mortgage. Not everyone thinks it through that far though.
As far as a 'bailout', this is something the banking industry is doing in self defense. There was a federal court decision recently that encouraged this. In essence, the decision said that the financial institutions only owned a 'derivative' (closest similarity) of mortgages loans and had no direct collateral. So they're trying to 'settle' instead of loosing everything. This was a good move though to try and settle things without forcing a lot of foreclosures. That would ripple through the economy and impact a LOT of us. So good move on W for working this out. Let's see if the mortgage holders can do some of this on their own without having another S&L bailout.
Feisty Kitty
12-07-2007, 09:45 AM
It's also only for 5 years then things will go back to how they were...BTW these people are not losers Sandra!:rolleyes:
Leviticus 25:35
If one of your countrymen becomes poor and is unable to support himself among you, help him as you would an alien or a temporary resident, so he can continue to live among you.
Proverbs 14:31
He who oppresses the poor shows contempt for their Maker,
but whoever is kind to the needy honors God.
Proverbs 17:5
He who mocks the poor shows contempt for their Maker;
whoever gloats over disaster will not go unpunished.
Proverbs 19:1
Better a poor man whose walk is blameless
than a fool whose lips are perverse.
Proverbs 19:17
He who is kind to the poor lends to the LORD,
and he will reward him for what he has done.
Proverbs is full of verses about how we should be loving and kind to the poor.....Apparently Dubya' is doing work for God....
Holy Crap! The Bible tells us to support illegal aliens! Sorry Sandy!
sandy
12-07-2007, 09:51 AM
Born-again Christians do not follow the old testament. We follow the New Testament. Supporting anyone who breaks our laws, slithers in her illegally, steals our ID's/SERVICES etc is treasonist/traitor behavior. :mad:
ARREST AND DEPORT ALL CRIMINAL ALIENS! :mad:
Feisty Kitty
12-07-2007, 09:54 AM
Born-again Christians do not follow the old testament. We follow the New Testament. Supporting anyone who breaks our laws, slithers in her illegally, steals our ID's/SERVICES etc is treasonist/traitor behavior. :mad:
ARREST AND DEPORT ALL CRIMINAL ALIENS! :mad:
That is not what you said before. You said you believe all of the Bible. You have quoted it on occasion. Which is it?
frank
12-07-2007, 10:08 AM
Jesus, this board gets tiresome at times.......
Feisty Kitty
12-07-2007, 10:15 AM
Sorry, Frank!
Jesus, this board gets tiresome at times.......
Ain't it a drag getting old?
Mother's Little Helper
Born-again Christians do not follow the old testament. We follow the New Testament. Supporting anyone who breaks our laws, slithers in her illegally, steals our ID's/SERVICES etc is treasonist/traitor behavior. :mad:
ARREST AND DEPORT ALL CRIMINAL ALIENS! :mad:
I am sure that Christ would rather families and everyone else too, for that matter, be able to keep their homes.
Christ (as well as just about EVERY OT prophet) spoke out against the wealthy taking advantage of those who were poorer. One of the biggest issues before the fall of Jerusalem to the Babylonians.
Christ (as well as just about EVERY OT prophet) spoke out against the wealthy taking advantage of those who were poorer. One of the biggest issues before the fall of Jerusalem to the Babylonians.
Christ was extremely angry at the rich oppressing the poor. It seems that oppressing the poor was a common practice around the time of Jesus.
Of course the rich were always held in high esteem by the religious right.
Wait, this sounds familiar...........
for bibilcal references..... Mark 12:38-40......frank, you don't have to read this if you do not want to. :)
Son of Simon
12-07-2007, 11:56 AM
Of course the rich were always held in high esteem by the religious right.
Wait, this sounds familiar...........
Nu uh...
Are Pastors supposed to be poor? I don't want some poor guy telling me anything. He has nothing edifying for me.
-SoS
Feisty Kitty
12-07-2007, 12:03 PM
Hahahahaha!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Nu uh...
-SoS
who was someone??? does that person want to hear religious information from the mafia??? I hear they are rich.
Christ was extremely angry at the rich oppressing the poor. It seems that oppressing the poor was a common practice around the time of Jesus.
Even more common in the days of Isaiah and Ezekiel. Jeremiah also gets totally lyrical on them.
Son of Simon
12-07-2007, 12:22 PM
Even more common in the days of Isaiah and Ezekiel. Jeremiah also gets totally lyrical on them.
Much easier to do during the days when there was no middle class, and no means to achieve a middle class.
There are still plenty of countries and cultures today that have a rigid class system with little to no hope of advancement. :(
-SoS
TaylorHicksRocks
12-07-2007, 12:28 PM
Much easier to do during the days when there was no middle class, and no means to achieve a middle class.
There are still plenty of countries and cultures today that have a rigid class system with little to no hope of advancement. :(
-SoS
Mexico is a very good example of one of those counties no wonder their citizens find there way here..
Feisty Kitty
12-07-2007, 12:29 PM
I think India would be the best example of that.
Much easier to do during the days when there was no middle class, and no means to achieve a middle class.
There are still plenty of countries and cultures today that have a rigid class system with little to no hope of advancement. :(
-SoS
India being a prime example. Hate to be a Dalit (the 'Untouchables') over there.
TaylorHicksRocks
12-07-2007, 12:32 PM
I think India would be the best example of that.
Oh yes India...I forgot about India!
kelly
12-09-2007, 03:38 PM
W will sign legislation bailing out all the losers who got sub-prime (adjustable) mortgages on homes they could not afford. I am against this. These people made choices and knew what they were doing. Why do we always have to bail out STUPID people? :mad:
http://news.yahoo.com/s/nm/20071206/us_nm/usa_subprime_homeowners_dc
I know people with fixed 7-8% loans who are gonna be really ticked off. :( The people who got the super-low adjustables (some starting at 1%) are getting a free ride. :mad:
You are soooo correct !
TaylorHicksRocks
12-09-2007, 03:43 PM
You are soooo correct !
Oh well that's what they get for going for a fixed mortgage versus an ARM...
kelly
12-09-2007, 04:04 PM
Oh well that's what they get for going for a fixed mortgage versus an ARM...
Please make sense ?
I know I am asking a lot here btw ... :rolleyes:
sandy
12-09-2007, 04:26 PM
Please make sense ?
I know I am asking a lot here btw ... :rolleyes:
:D :D :D